TRADE AND FINANCE.

Auckland Star, Volume LIV, Issue 73, 26 March 1923, Page 6

TRADE AND FINANCE.

___: « AUCKLAND SHAREMARKET. BUSINESS DONE. AT Till-: 10 A.M. CALL TO-DAY— New Zealand Insurance £1/8/6 AT THE NOON CALL TO-DAY— Taupirl Coal •1/1/0 \Vll».ia« Cement £1/4/3 Glsborne Sheep (£IOO,IO-0)

I MARKET CHANGES. 'Rank nf Australasia—Buyers £13. up 4/. Tnunlri Co-.il—Sales £1/1/0. up 3d. "•"estport Coal—Buyers £1/17/0. up 3d. City of Auckland 31 p.c. Debentures — Buyers £09, up £1. SOUTHERN EXCHANGES. (By Telegraph.—Press Association.} CHRISTCHURCH. this day. Reported sales: Howard Smith (cum dlv.), £2/12/6 and £2/12/0: Crown Brewery. £2/1/0; Farmers' Co-op., 1026. 7/2: Bonds. £96/10/0. DUNEDIN, this day. Sales on "Change: Dominoln Rubber. 19/ (two parcels). ■it.' MINING NEWS. MP [3g|f ;,■'-' WAIIII G.M. COMPANY. The manager reports that the principal operations carried out in the mine during the period ended December 31, 1922, were as follows: —No. 13 level, north sect'on or Martha lode, east of No. 4 shaft crosscut, drive to 317* feet; the assay value from 207 to 317 ft is 26/7 per ton; crosscutting south is In progress at 316 feet, with the following result, measuring from the north side of the level: 30 feet, hard quart!!, assaying 10 10 per ton. The south wall is not reached. The west drive is in a mixture of quartz and country, the lode linvirg split up. Assay value from 310 to 346 feet Is 12,6 per ton. No. 12 level, north section of Martha Lode, west of Bath crosscut. A total distance of 400 feet has been attained. Assay value for the last 70 feet is 14/1 per ton. No walls are seen at face. Empire section of Martha Lode, the crosscut at 270 feet cast was driven a total of 116 feet to the north. The full width of the roof here is 69 feet, commencing from the south wall at 41 feet in. The assay results are as follows: From 50 feet. 7/2 per ton, mixture of quartz and country; 30 to 60 feet. 20/4 per ton, quartz: and from 60 to 69 feet. Vi per ton. In Gin winze, which is down 58 feet, no walls are exposed. The assay value from 30 to 50 feet is 37/4 per ton. In the south branch of Dreadnought Lode, east of Graham S.E. crosscut, the drive was advanced to 23 feet, where the width Is two feet, and assay value 6/8 per ton. In the west the width of roof is about three feet; assay value from 3 to 44 feet 9/9 per ton. Work on this reef is now suspended. The Royal lode in east drive, from 110 to 170 feet, assayed 189 per ton. Five feet of quartz is exposed, and no walls seen. At 134 feet, the full width of the reef is right feet, assaying 10/1 per ton. At No. in level the Edward Lode, south of No. 2 shaft, gave an nssav value from 1391 to 3421 feet of 08/1 per ton. At 1390 feet, the full width of the reef is twenty feet, of an average assay value of 63/6 per ton. LONDON BUTTER MARKET. Messrs. A. n. Turnbull and Co. are in receipt of a cable from Messrs. W. Wetldel and Co.. Ltd., London, dated March 24. regarding the dairy produce market, as follows:—Dnnish butter. 204': N.Z. butter, nnsalted 198' to 200. salted 190' to 196. Market steady. N.Z. cheese, white 146' to 148. coloured 148/ to 150,'. Market quiet but steady. FREE MARKET FOR GOLD. EFFECT ON OVERSEAS TRADE. An interesting article contributed by Sir James Wilson. X.C.5.1.. to the "British Trade Review." deals with the question of a free market for gold in London and Its probable effect on oversea trade. The writer ' points out that if the present restrictions on the export of gold were abolished in Britain people would be able to send a sovey..^','!,* l United States or Canada and get 4.Si dollars as against 4.63 for the paper pound. Sir Jnmes states that now people bad become accustomed to a paper currency it was probable that less gold would be required in the future. It is Interesting, to note-in the article that on June 30th. 1914, ! the f BOUI held or URcd 1" ' roundV worth Klue , <l "V 1 T w<lß 161 - 3 millioa - wesent «?££' , and l slr . J l? es states »«""■ at of sow stm hli, a, <'°", t J, 110 snme Quantity g@£§i&__Ss all over the world. Be ,1» s.i™. « " aom slabilisation of *$"*»• Britain? *° trade

HANKS— Sellers. Buyers. Australasia — •• 18/0/0 Commercial 1/17,0 .. 1/15/0 National 6/1 i/n .. — Now South Wales.... 38/0'<> .. 3</o/0 .New Zealand 2/17/3 .. 2/16/3 Union of Australia... — .. 14/0/0 INSURANCE— Nationjl 9/11/6 .. 3/15/0 New Zealand l.'S/U .. l/S/3 bouth British 1/18/0 .. 1/18/9 Standard — .. 1/14/8 FINANCIAL— N.Z. aud River Plate. 1/2/0 .. 1/1/3 Loan nnd Mercantile 00/0/0 .. 83/0/'' Loan and Merc. u>ref.) — .. 75/0/0 COAI-— Hlkurangi (ord.> .... 14/6 .. ;3/0 Taupirl 1/1/6 .. 1/0/0 Taupirl .pref.) 1/5/0 .. 1/3/8 Waipa — .. 1673 Westport — .. 1/17/0 ■Westport Stockton .. — .. 4/0 GASAuckland (old) 1/0/6 „ 1/5/0 Auckland (new) 1/0/3 .. 1/5/3 Glsborne — .. 12/6 SHIPPING— Devonport Ferrv . — .. 1/5/0 Hud.Parker lex div. rights — .. 1/10/6 Northern Steam (p.n.) — .. 14/0 Northern Steam (cont.) 7 '0 .. 6/6 Union Steam rpref.).. — .. 10/9 TIMBER— Bartholomew 1/0/6 .. ■— Knurl Timber 1/8/0 .. — , L.O'B 1/18/6 .. 1/16/0 Parker. Lamb 1/6/0 .. 1/4/0 WOOLLEN— Wellington — ». 8/17/0 Wellington (pref.) ... — 4. 8/17/6 .MISCELLANEOUS— Abraham, Williams.. 4,10/0 .. — A. J. Entrican, Ltd.. 1/2/6 .. 10/0 Auckland Trams — — 1/2/3 Auckland Trams (pref) — .. 19/0 Bjcroft. Ltd — _ 1/0/0 Colonial Sugar tAus.) — „ 41/0/0 Farmers' Aue. A (pref.) 18/0 .. 16/0 Qear Meat Co — .. 2/0 0 Hill and Plummer ... — .. 1/1/0 Theatre Arcade (pref) 10/9 __ — •Merediths, Ltd — .. 10/0 Milne. Oboycc Web.) 1/4/0 .. 1/3/0 National Pictures ... — ... 15/6 I Newton King (pref.). — .. IT'9 , N.Z. Express 16/6 .. 14/8 N.Z. Home Builders.. 15/3 .. — N.A. Farmers 6/6 .. — N.A. Farmers (A pref.) — .. 7/0 N.A. Farmers (B pref) — .. 7/0 Northern Boot — .. l/2/O Fhllllnps and Impey. — .. 1/8/8 Shnrland and Co — .. 1/1/6 Takapuna Trams .... — .. 17/0 Tonson Garlick — .. 13/0 Union Oil 1/10'fi ., 1/0/0 Wilsons Cement 1/4 fi ., 1/4/2 N.Z. Milk Products.. 1/7/6 ~ — MINING STOCKS— Moanataiarl 3/6 .. 3/1 Muir's Reef 1/10 0 .. -■ Rising Sun — .. 0/S Wnlhi 1/8/6 .. 1/8/0 DEBENTURES AND BONDS— Auck. Gas, 1932, 5 p.c. 93/0/0 .. — Auckland H.B., 6 p.c. 105/0/tj .. — Auckland H.B., 4i p.c. 96/0/0 .. — City Auck.. oi p.c — .. 99/0/0 N.Z. War, 1930,4* p.c. — ..90/13/0 N.Z. War. 1P38. 41 p.c. — ..96.17/6 N.Z. War, 1939. 4J p.c. - .. 96/13/0 N.Z. War, 1927, 5 p.c. — ..97/10/0 So). Loan, 1033. 5$ p.c. — .. 100 5/0 N.Z. Ins., 1927, 3 p.c. — ..97/10/0 N.J.. Ins., was, 4J p.c. — ..06/17'« N.Z. Ins., 1039, 4J p.c. — .. 96/7 '6 Snl. Loan. 1933. 3} 100'10/O ..100/0/0 Glsborne Sheep 101/0 0 .. — Mnefcy. Lo.rau — .. 102/0/0 IVvi-rof.s. Ltd 100'0/0 .. — New Plymouth Gas.. 103/0/0 .. —